Home Networking company Demand For Cloud Networking Boosts Growth Of Governance, Compliance And Risk Management Software Market

Demand For Cloud Networking Boosts Growth Of Governance, Compliance And Risk Management Software Market

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Governance, Compliance, and Risk Management Software Market Report 2022

The Business Research Company Global Governance, Compliance and Risk Management Software Market Report 2022 – Market Size Trends and Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, Jan 12, 2022 /EINPresswire.com/ – The growing use of cloud-based networks is expected to propel the growth of the governance, compliance and risk management software market in the to come up. Cloud networking consists of an on-premises cloud and a public cloud that manages the network capacity in organizations. Cloud networking is used by risk managers, accountants and auditors to simplify their activities within an organization. For example, Cisco Global Cloud Index (2016-2021), 94% of all workloads run in a cloud network and virtualized environment. Hence, increasing usage of cloud-based networks is driving the growth of governance, compliance, and risk management software market.

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Automation of GRC programs through specialized software applications is shaping the governance, compliance and risk management software market. GRC software helps businesses manage all relevant documentation and processes to ensure peak productivity and readiness. For example, in 2020 IBM, a US-based software company, launched IBM OpenPages with Watson. IBM OpenPages with Watson is an AI and data-powered GRC platform that helps businesses manage risk and regulatory compliance. CRM is simplified with IBM OpenPages because it unifies segmented risk management tasks into a single, highly visual interface. It uses various IBM technologies and capabilities, such as Watson Assistant, Watson Natural Language Translator, and IBM Cloud Pak for Data, to reduce user training needs and enable organizations to standardize and automate their responses to GRC issues.

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The global GRC market size is expected to grow from $ 33.74 billion in 2021 to $ 38.44 billion in 2022 at a compound annual growth rate (CAGR) of 13.9%. The change in market growth trend is mainly due to companies stabilizing production after meeting demand which increased exponentially during the COVID-19 pandemic. The global governance, compliance and risk management software market share is expected to reach $ 63.59 billion by 2026 at a CAGR of 13.4%.

The main players in the governance, compliance and risk management software industry are IBM, Dell Technologies, SAP SE, Oracle Corporation, Software AG, LogicManager, Riskonnect Inc., Galvanize Inc., SAI Global, MetricStream, Sword GRC, Check Point Software Technologies, MEGA International, Resolver Inc., Lockpath, ProcessGene, ReadiNow, LogicGate, Microsoft Corporation, RSA Security LLC and BWise BV.

The global TBRC Governance, Compliance and Risk Management Software market report is segmented by component into software, services, by on-premises deployment, cloud, hybrid, by type of small and medium-sized business (SME ), large enterprise, by vertical sector in BFSI, construction and engineering, energy and utilities, government, healthcare, manufacturing, retail and consumer goods, telecommunications and IT, transport and logistics, others.

Global Governance, Compliance & Risk Management Software Market Report 2022 – By Component (Software, Services), By Deployment (On-Premises, Cloud, Hybrid), By Business Type (Small & Medium Business (SMB) ), large business), by vertical sector (BFSI, construction and engineering, energy and utilities, government, healthcare, manufacturing, retail and consumer goods, telecommunications and IT, transport and logistics) – Market size, Global trends and forecast 2022-2026 is part of a series of new reports from The Business Research Company which provides an overview of the Governance, Compliance and Risk Management Software market, the market size of the Governance Software, compliance and risk management and the growth of the governance, compliance and risk management software market for the whole market, governance, compliance and management risk software market segments, geography of the governance, compliance and risk management software market, strong governance, compliance and risk management software market, drivers of the governance, compliance software market and Risk Management Software Market Constraints in Governance, Compliance and Risk Management Software Market, Major Competitors Revenue in Governance, Compliance and Risk Management Software Market, Governance Software Market Profiles, compliance and risk management and market share.

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